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So if I call Bob and Bob says X, and I post on this thread "Bob said X", I have a feeling that some of yall would say "You're just spreading rumors, Bob didn't really say X. Now that wouldn't be very informative, would it? This way Bob can answer some of yall's questions efficiently and without doubt about who said what.
Jamesboy
It is nice of you to be so concerned about getting the answers to questions for us that you want call Bob and get the answers for yourself and doing this so we wouldn't think you were spreading rumors. Bull****, who are you trying to fool?
Just curious how bedrooms unit #702 is that was recorded today for $758,700.00. Thanks. I wondered if the individuals with "special" pricing are delaying their closings so as to not lower appraisals?
I purchased a unit at NBT back in August. I wanted to try and gather all the information I could before making my purchase decision. That is why I read this forum and out of curiosity decided to read it yesterday. I quickly realized that some of the people on this forum make legitimate points, some just want answers, but mostly people are just angry because their risky "flipping" investment didn't work out. No one is happy with the state of the economy.
No one can predict the future. Maybe the units will end up selling for much lower than the current prices. Maybe there will be auctions... no one knows. But, for anyone on this forum to act like they hold a crystal ball is crap. I am certain that the develper and thebanks holding the notes on NBT haven't worked out all of the details. Unlike others on this forum, I can't predict the future, but I can state the FACTS of the present and past.
JAMESBOY: FACT: I received financing in order to buy my unit. Not some private cash sale.
FACT: Because the project is Fannie Mae approved, I received the same interest rate I would have received on my first home. Not some inflated vacation home rate. Standard conventional 30 year fixed.
FACT: My unit appraised for the asking price.
FACT: The following comments are worth noting from my appraisal report in regards to "similiar properties" in the area. "There are few, if any, comparable projects." "The subject's contract price is adequately supported." I could write more, but I will stop there.
FACT: One of the few comparable properties in the area is Island Vista. Not because it has the most expensive condos, but because it has one of the best rental histories of any complex on the Grand Strand. Recent sales at Island Vista are in line with NBT contact prices per square foot.
If you have ever been to Island Vista, it hardly compares to NBT. (That of course is my opinion). However, my appraisal used the word "inferior." (That is fact).
Just trying to gauge the level of activity and number of closures is difficult. Some of the condos, like 404, 408 and 908 appear multiple times in the Horry County settlement listings. Any idea why?
I purchased a unit at NBT back in August. I wanted to try and gather all the information I could before making my purchase decision. That is why I read this forum and out of curiosity decided to read it yesterday. I quickly realized that some of the people on this forum make legitimate points, some just want answers, but mostly people are just angry because their risky "flipping" investment didn't work out. No one is happy with the state of the economy.
No one can predict the future. Maybe the units will end up selling for much lower than the current prices. Maybe there will be auctions... no one knows. But, for anyone on this forum to act like they hold a crystal ball is crap. I am certain that the develper and thebanks holding the notes on NBT haven't worked out all of the details. Unlike others on this forum, I can't predict the future, but I can state the FACTS of the present and past.
JAMESBOY: FACT: I received financing in order to buy my unit. Not some private cash sale.
FACT: Because the project is Fannie Mae approved, I received the same interest rate I would have received on my first home. Not some inflated vacation home rate. Standard conventional 30 year fixed.
FACT: My unit appraised for the asking price.
FACT: The following comments are worth noting from my appraisal report in regards to "similiar properties" in the area. "There are few, if any, comparable projects." "The subject's contract price is adequately supported." I could write more, but I will stop there.
FACT: One of the few comparable properties in the area is Island Vista. Not because it has the most expensive condos, but because it has one of the best rental histories of any complex on the Grand Strand. Recent sales at Island Vista are in line with NBT contact prices per square foot.
If you have ever been to Island Vista, it hardly compares to NBT. (That of course is my opinion). However, my appraisal used the word "inferior." (That is fact).
I wouldn't criticize those who are reluctant to close because their "risky 'flipping' investment didn't work out." I know of a couple of people who are actually distraught that they can't close on their "investment" which was to be their second home at the beach they have been going to for decades. Not everyone who hasn't closed is a "flipper," some have just experienced extraordinary financial setbacks (they were not even involved in the real estate market other than to own their own home and purchase what was to be a beautiful vacation property - for personal use, BTW).
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